Bitcoin (BTC) is well on its way to hitting a new all-time high this month and at least $ 72,000 in November if the latest pricing data is correct.
In one tweet 12, Filbfilb, an analyst at the Decentrader exchange, described what he sees as an achievable target price for this month and next.
BTC price at $ 72,000? “Strange things have happened,” said the dealer
With Uptober delivering solid bullish results so far, analysts are keen to see where the Bitcoin bull run could lead in the fourth quarter.
As Cointelegraph reported, some predictions have used historical price comparisons and even simple calculations to come up with a short-term BTC / USD target of up to $ 300,000.
For Filbfilb, a return to previous all-time highs of $ 64,500 and above remains “hopium” over the coming weeks, but the general bitcoin bull market may not need much inspiration to move forward.
“Some good news, however, along with stubborn kids and the possibility that strange things may have happened,” he commented.
However, despite the uptrend, he added that this was not the time to take risks and advised traders not to use undue leverage for long or short positions.
An accompanying graphic compares 2021 with 2017, one year after the previous halving of the block funding. Accordingly, a return to the all-time highs in late October seems possible, which is in line with existing projections.
The bet increases to $ 45,000
Meanwhile, on the subject of a potential retracement, Filbfilb came up with the $ 48,000 idea as there was no widespread sales interest.
Related: BTC Price Hits 5 Month High Of $ 57,000 – 5 Things To Watch Out For In BTC This Week
“My head says 48, but basically there don’t seem to be any other sellers than those who are on the stock exchange. idk, i’m 50/50, ”he said speak in the comments on Twitter.
This reflects Decentrader’s own targets of around $ 45,000 to $ 50,000 once the resistance approaches $ 60,000.
“Similar to previous events, we then looked back at a correction to retest the $ 50-1,000 level that we expected again,” an update said.
“It’s worth noting that corrections to a significant level like $ 50,000 in this case don’t usually stop at the first demand. Hence, we will be watching the price movement here as the price could slow down to $ 45,000 as we saw back in February of this year. “
At the time of writing, BTC / USD is trading at $ 57,400 as a deviant 24-hour behavior followed a clip to a five-month high.